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Singapore
Biomedical Sciences Industry
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3) The population of
Singapore is ageing rapidly (the fifth highest rate of increase in the
world).
4) The Singapore
Government would like to remain the leader for health care services
among its neighbors in Southeast Asia.
The Ministry of Health (MOH) is the largest end-user, accounting for nearly 70% of local
demand, as it oversees 11 hospitals and more than 200 outpatient/dental
clinics. Hospitals under the Ministry account for 8,511 beds, or 80% of
the total, compared to 2,157 beds in all the 13 private hospitals.
Parkway Healthcare is also a large end-user with three hospitals
(accounting for 990 beds) under its ownership.
Local production by
multinational corporations and indigenous Singapore companies are mainly
for export. More than 80% of local
demand is met through imports, in particular, imaging and diagnostic
equipment.
There are no custom
duties on medical devices. A 3.0%
goods and services tax (GST) is imposed on goods sold and services
locally rendered. Imports are subject to GST but payments are refundable
on re-exports.
There is no mandatory
product registration for medical devices except radiation emitting
devices, radioisotopes and HIV test kits. Medical devices such as X-ray
machines, CTs, MRIs, lithotriptors, lasers, microwave and UV equipment
are subject to licensing control by the Ministry of Health.
The MOH plays a pivotal
role in the development of Singapore’s health care industry. Any new
policies on health care will impact the market for medical devices. In
the short term, the Ministry is cognizant of the regional economic
crisis by deciding to delay purchases of non-replacement equipment for
all public sector hospitals and clinics between April and September
1998.
The decision will be
reviewed after this period. However, industry analysts are optimistic
that the medical devices market will enjoy growth due to the following
reasons:
1) The Singapore
Government is committed to maintain the existing high standard of health
care for its citizens.
Singapore’s health care service is comparable to
those of industrialized nations. With a population of 3.04
million, per capita spending was about USD 800 which is among the
highest in Asia.
The development of new
hospitals and specialized centers together with the upgrading of
existing hospitals (including the private sector’s) contributed to the
buoyant state of the medical devices market between 1993 and 1997. The
market would continue to grow with ongoing projects such as the building
of the new Tan Tock Seng
Hospital, Singapore
Cancer Centre and further upgrading of Alexandra Hospital.
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